Philippine Economy in a "Worrisome State," Says Moody's Analytics

Limited vaccine availability was cited as a reason.

philippine economy
PHOTO BY Shutterstock ILLUSTRATION War Espejo

Philippine economy

(SPOT.ph) The Philippine economy is in "a worrisome state," according to the Asia-Pacific Daily Briefing by Moody's Analytics on March 25. The global platform, which provides credit analysis, economic research, and financial risk strategy, cited "elevated inflation, a large output gap, a recent resurgence of COVID-19 infections, and limited vaccine availability" as reasons for the situation.

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The factbook also detailed other economic data, such as the total unemployment rate of 8.75% as of the first quarter of 2021, outstanding local public debt of P23,611 million and outstanding foreign public debt of P50,164 million in January 2021, and a stock market index of 6,497 on March 24, 2021.

According to their website, Moody’s Analytics, a unit of Moody’s Corporation, "helps capital markets and risk practitioners worldwide respond to an evolving marketplace with confidence."

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